The nation's mayors are urging Congress to restore some of the nearly $9 billion cut in transportation funding proposed in President Bush's 2003 budget.
The president's budget cuts nearly 28% from the federal highway program in 2003. It is estimated that every $1 billion invested in the program supports 42,000 jobs. Therefore a cut of this magnitude would result in the loss of hundreds of thousands of jobs.
"The financial health of transportation programs across the nation will be in jeopardy as credit and bond financing may be at risk," said leaders of the U.S. Conference of Mayors in a letter sent to Congress this week.